Is Coconut Grove, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Coconut Grove is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Coconut Grove was a Seller's Market.

Key Takeaway

Coconut Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Coconut Grove, FL

How much do homes in Coconut Grove, FL cost?

Median Sold Price

$1,528,333

$825/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$106,308(+7.5%)

Key Takeaway

Homes in Coconut Grove have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Coconut Grove was $1,528,333 in April 2024, up 7.5% from last year, and the median price per square foot was $825.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $400K$448.7K
+12.2%
2 $990K$1.2M
+27.3%
3 $1.6M$1.6M
+3.0%
4 $2.1M$2.6M
+25.0%
5+ $4.3M$4.6M
+8.2%

Summary: Coconut Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 8.2%.

Median Sold Price Compared To Nearby Neighborhoods

Grove Isle
+25.0%
Douglas Park
+22.0%
Coconut Grove
+7.5%
Sunrise Harbour
+3.8%

Housing Supply in Coconut Grove, FL

How many homes are available in Coconut Grove, FL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
307329+7.2%

Summary: The Coconut Grove real estate market had 329 homes for sale in April 2024, a 7.2% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 4647
+2.2%
2 7070
0.0%
3 8693
+8.1%
4 5356
+5.7%
5+ 5263
+21.2%

Summary: The Coconut Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.2%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 21.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
4349+14.0%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Coconut Grove, you may be able to get a good deal. 67.3% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in Coconut Grove in April 2024, up by 14.0% month-over-month. Of the 49 sold homes, 67% were sold under asking, 16% were sold at asking, and 16% were sold over asking.

Days on Market for Coconut Grove, FL

How long does it take to sell a home in Coconut Grove, FL?

Average Sale Time

Apr 2023Apr 2024CHANGE
83 Days57 Days-31.0%

Summary: Homes in Coconut Grove had an average of 57 days on market in Apr 2024, down by 31% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Coconut Grove are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 49 homes were sold in Coconut Grove; 45% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 25 Days Ago

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